Free accounts sound good?

If someone doing your service charge accounts for FREE sounds good - read on.

It is a little known fact that the fine for not preparing service charge accounts and presenting them to service charge payers is £2,500 (see Section 25 – Landlord and Tenant Act 1985 & Section 37 – Criminal Justice Act 1982)*. And, IF you fail to comply with the requirements in sections 21, 22 and 23 of the Landlord and Tenant Act 1985 (see above) without reasonable excuse you will be committing a summary offence. *legislation applies where there are 5 or more service charge payers.

For BlockCare 300 members service charge accounts are included.

How we prepare the service charge accounts

Accounting for the money due (INCOME on the Income & Expenditure page)

You set the budget and submit it to us

We split the budget by the service charge percentages and create the demands

Accounting for the money spent (EXPENDITURE on the Income & Expenditure page)

You logon upload invoices & tell us what bills to pay
We pay the contractors from your bank account

Accounting for the money due (debtors on the Balance Sheet page)

We bank the money into a Client account for just your block
We manage the service charge arrears, so know who owes what

Accounting for the assets (creditors on the Balance Sheet page)

We manage your bank account so know the balance of funds
We know who needs to be paid from the payment requests you make
We manage the share register so are aware of your share capital and reserves

Go to RFAS.co.uk »

We put all the above together to prepare the full accounts

NOTE: Free service charge accounts applies for any full service charge year that you are a paid up BlockCare 300 member, part years and prior years accounts can be prepared from your records for a fee.

Preparation of Company Accounts

Company Accounts are not included within the base BlockCare 300 fee as not all Clients have a Freehold, Right to Manage or Residents Management Company. However, Ringley Final Accounts Service (RFAS) will provide you with a tailored quotation or you can check out their fee scale for Company Accounts preparation at https://rfas.co.uk

What is included for BlockCare 300 members is filing the Company Accounts (if any) and Where RFAS are instructed to prepare Company Accounts then dealing with trust tax returns and the Inland Revenue is included

For blocks of flats the Company Accounts that are required for filing at Companies House may be 'dormant', 'abbreviated' or 'trading' company accounts depending on whether ground rent is collected, lease extensions have been sold or whether owners have clubbed together and bought the freehold.